Colicity Inc.'s Closing of US$345M IPO

Winston & Strawn LLP represented Colicity Inc., a special purpose acquisition company, in the closing of its IPO of 34,500,000 units, including the underwriters’ exercise of their full over-allotment option for 4,500,000 units, at a price of US$10.00 per unit. The units are listed on the NASDAQ Stock Market and began trading under the ticker symbol “COLIU” on February 24, 2021. Each unit consists of one Class A share and one-fifth of one redeemable warrant, with each whole warrant exercisable to purchase one Class A share at a price of US$11.50 per share. Only whole warrants will be exercisable. Once the securities comprising the units begin separate trading, the Class A shares and warrants are expected to be listed on the NASDAQ under the symbols “COLI” and “COLIW,” respectively. The Company intends to focus on businesses that operate within the technology, media, and telecommunications sectors and is led by veteran communications and technology entrepreneur Craig O. McCaw, who is Colicity’s Chairman and CEO, and Randy Russell, Colicity’s CIO.